Higher tax rates for top 5% of income-earners

Singapore

THE rich will have to pay more taxes under the redistributive Budget as Singapore continues to ensure a fair and equitable system of taxes and benefits.

The government will raise the marginal tax rates for the top 5 per cent of Singapore's income-earners though the impact is offset somewhat by the increase in CPF salary ceiling.

The top marginal rate will rise by two percentage points, from 20 per cent to 22 pe…